explain the concept of optimality.
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In dynamic programming, explain the concept of optimality.
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- Exercise 2.2 In a transport company, 6 trucks of Type 1, 10 trucks of Type 2 and 8 trucks of Type 3 are available for each day's requirements. The tonnage capacities are 16 for Type 1, 12 for Type 2 and 9 for Type 3. The company dispatches its trucks to Cities A and B. Tonnage requirements are 20 at City A and 30 at City B; excess tonnage capacity supplied to a city has no value. Considering the distances, it is possible for the trucks to go only once to the destinations everyday. The cost of sending a truck to each city is given in Table Formulate this problem as a linear programming problem. Table City A City B Cost of Sending Trucks Type 1 Type 2 Type 3 2000 1800 1200 3000 2400 2200CASE BACKGROUND The MGMT Insurance Ltd. accepts payments on various insurance policies from employees of businesses across the island. These businesses deduct payments from employees’ salaries and pay the insurance company a lump sum each month. This total amount deducted is shown on each employee’s payslip. Deductions are due at the end of each month and each participating business submits one payment for its employees to the insurance company via online payments through the bank. However, if payments were received after 11:00 a.m., the bank does not process them until the next business day. At the beginning of each month an administrative assistant at MGMT Insurance Ltd. downloads the deductions for each company and allocates payments to the various policies. These payments include the client’s unique number along with his/her relevant policy numbers and amounts due. However, recently there has been some complaints that payments for some policies were not being allocated correctly.…Problem 1 The Security Company in charge of rescuing visitors in the case of problems at "High Mountain Natural Park" in South Bekaa area has the intention to purchase special trained dogs to help their rescue team, so that they can conduct their search for lost people more efficiently. The rescue team is composed of 10 employees and the company is going to provide each of them with a trained dog. Two types of dogs were selected. The German Shepherd dog breed and the Belgium Malinois breed. The cost of the Belgium Malinois dog breed is $550,00 per dog, while the German Shepherd dog breed is at $850,00 each. For budget reason, the number of German Shepherd dog should be less than half the number of Belgium Malinois. For technical reason, at least three German Shepherd dog must be purchased to get advantage of the special performance of such dog breed in their particular capacity to search for lost person in all weather and under heavy conditions. The overall budget is $6500,00. All of…
- Case 2: You have been put in charge of a massive undertaking at your current UWI campus. Funds have been provided to completely overhaul/renovate the existing sporting facilities. The goal is that the updated facilities will include high-tech, AI based facilities for team-based sports (cricket, track and field, soccer, netball and basketball). These changes should also include spectator interaction and engagement, as well as a media box. You have also been asked by the student athletes to purchase some instrumented equipment such as balls and bats for use in training. You research what is available and start to make a shopping list. For your presentation, choose ONE instrumented facility technology (e.g. Hawkeye), and ONE instrumented equipment (e.g. cricket ball ) to discuss. Prepare a narrated PPT (no video necessary) lasting 15 minutes on these items i choose any cricketing equipmentHow did you find the solutions in the table for the range of optimality for the profit coefficient?Maria is considering operating a local business in the beauty and cosmetology sector in the island of Trinidad. She has completed research into the operations of similar businesses locally and intends to market and sell her products initially at the local level, with the possibility of extending at the regional level in the near future. Maria understands that to shape the business’s overall strategy there are various strategic drivers both internally and externally which must be considered and wants expert advice on these drivers relevant to her business. She is also struggling with deciding on the best structure for the organization, as well as the most effective ways of marketing her products to ensure that they are more attractive to buyers than the current options. She is considering a strategic alliance but is not sure if to form links among non-competitive firms or associate with firms in an unrelated activity. Maria is aware of internal and external tools which…
- Place-Plus, a real estate development firm, is considering several alternative development projects. These include building and leasing an office park, purchasing a parcel of land, and building an office building to rent, buying and leasing a warehouse, building a strip mall, and building and selling condominiums. The financial success of these projects depends on interest rate movement in the next 5 years. The various development projects and their 5-year financial return (in €1,000,000s) given that interest rates will decline, remain stable, or increase, are shown in the following image of the payoff table: a) Place-Plus is dissatisfied with the economist’s estimate of the probabilities of future interest rate movement, so it is considering having a financial consulting firm provide a report on future interest rates. The consulting firm can cite a track record which shows that 80% of the time when interest rates declined, it had predicted they would, whereas 10% of the time when…please answer the following question a , b, c, d using execl solver ?A council has a brown-field sites designated for social housing. After allowing for roads and parks it has an area of 150000 m² for social housing. The housing association intends to build a mixture of flats, two-bedroom houses, three-bedroom houses, and shops (which include a living space) on this site. The housing association wishes to maximise the number of people that can be housed but has strict housing requirements: • there must be at least twice as many two-bedroom houses as three-bedroom houses; • at least 10% of the total housing units excluding shops (i.e. flats and houses) must be flats; • buildings containing the flats (i.e a "block") must have two storeys and every flat must have the same floor space; • shops must be provided at a rate of at least one per 1500 inhabitants. The average number of inhabitants per housing unit and the ground floor area of each are given in the following table. Housing type Flat Two-bedroom house Three-bedroom house Shop Average number of…
- Show the complete Linear Programming Model: ABC Marketing Research has four project leaders assigned to minimize the total time to complete all projects. The estimated project completion times in days are as follows:Where may dynamic programming be used?CASE BACKGROUND The MGMT Insurance Ltd. accepts payments on various insurance policies from employees of businesses across the island. These businesses deduct payments from employees’ salaries and pay the insurance company a lump sum each month. This total amount deducted is shown on each employee’s payslip. Deductions are due at the end of each month and each participating business submits one payment for its employees to the insurance company via online payments through the bank. However, if payments were received after 11:00 a.m., the bank does not process them until the next business day. At the beginning of each month an administrative assistant at MGMT Insurance Ltd. downloads the deductions for each company and allocates payments to the various policies. These payments include the client’s unique number along with his/her relevant policy numbers and amounts due. However, recently there has been some complaints that payments for some policies were not being allocated correctly.…
